House Flipping in the Houston metro (Bellaire: 2015, houses, neighborhood)

[H'ton]

Any house flippers here in the Houston area or within Texas?


If so, what are the pros and cons and what advice would you have for someone starting out?

[HookTheBrotherUp]

Originally Posted by H'ton

Any house flippers here in the Houston area or within Texas?


If so, what are the pros and cons and what advice would you have for someone starting out?

There are people who still do this in the suburbs, but not with huge windfalls. Gone are the days of the HGTV junkies buying up properties at about the 250-300K range, probably ended about 2012-2015 as far as inside the loop goes.

Here where I live in Montrose, most 5000 sq ft lots are priced at about 500K, just for the dirt. The house is extra, if worth any value. To flip one of these old homes, if you can find them, will take 300-350K (for a 2 story home) to fix and update, so you are looking at an investment of about ~800K. Now, most homes are sold to developers who knock them down, and replat the lot for two homes, sometimes three if on a corner (because they can get a driveway for the third). BTW, a corner lot can fetch close to 600K just for the dirt.

Tough to crack, but people still do it if they can afford it. Good luck!

[mojo101]

Do yourself a favor,flip Bitcoin instead

[ParaguaneroSwag]

Originally Posted by mojo101

Do yourself a favor,flip Bitcoin instead

Flipping houses has benefits that dealing crypto doesn't

[ParaguaneroSwag]

Just look at places most in danger of gentrification for the best flip.

[airdrawndagger]

Originally Posted by ParaguaneroSwag

Just look at places most in danger of gentrification for the best flip.

Yep, there are still good flip opportunities where Eado meets East End/2nd Ward, as well as in the Northside Village area, just to name a couple areas ITL.

[ParaguaneroSwag]

Originally Posted by airdrawndagger

Yep, there are still good flip opportunities where Eado meets East End/2nd Ward, as well as in the Northside Village area, just to name a couple areas ITL.

Yeah. The biggest opportunities lie in the suburbs. But you see a lot of gentrificational flip opportunities in places like EaDo, 5th ward etc. Bellaire is due for a rise in prices now that the upper Southwest is finally beginning to slowly gentrify.

A lot of people questioned why Bellaire is taking so long to have a price rise and to me it’s too obvious. You can’t be sitting right next to the bad side of Bissonnet and expect people to see your city/neighborhood as a desirable area. As Bissonnet gentrifies, Bellaire will spike.